Persuasion in an asymmetric information economy: a justification of Wald’s maxmin preferences
Sign Up to like & getrecommendations! Published in 2021 at "Economic Theory"
DOI: 10.1007/s00199-021-01364-7
Abstract: To justify the use of Wald’s maxmin preferences in an asymmetric information economy, we introduce a mechanism designer who can convince/persuade agents to adopt Wald’s maxmin preferences. We show that more efficient and individually rational… read more here.
Keywords: wald maxmin; information economy; asymmetric information; maxmin preferences ... See more keywords